PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Ways and Means.
Congressional Research Service
Version 00 · Introduced in House · Jun 24, 1999
Alaska Native Claims Settlement Act Settlement Trusts Remedial Tax Act of 1999 - Amends the Internal Revenue Code with respect to the tax treatment of Settlement Trusts established under the Alaska Native Claims Settlement Act.Exempts from income taxation any such Settlement Trust electing coverage by this Act. Declares that for an electing trust: (1) no amount shall be includible in the gross income of a Settlement Trust beneficiary by reason of a contribution to the Settlement Trust during such taxable year; and (2) the ordinary requirements for taxation of trusts and beneficiaries shall not apply.Requires an electing trust to distribute at least 55 percent of its adjusted taxable income each taxable year. Imposes a tax on a trust, in the amount of the failure, if the distribution is insufficient.Includes in the beneficiary's gross income, as ordinary income, any distribution from an electing trust (only when the actual distribution is received). Provides that distributions from the trust will be taxable as ordinary income even if the distribution represents a return of capital. Requires tax withholding on trust distributions over a certain amount.
People & committees
Rep. Young, Don [R-AK-At Large] · R–AK
Legislative record
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Referred to the House Committee on Ways and Means.
Sponsor introductory remarks on measure. (CR E1393-1394)
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 20, 2025. Consult Congress.gov for the current record.
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